Nike (NKE) shares were up 0.9% in early trading Thursday after an Amazon.com (AMZN) spokesperson reportedly said the company plans to resume selling its products on the platform.
"We highlighted re-establishing a partnership with Amazon should be a key priority and are bullish they have decided to take this route," Truist Securities said in a note emailed late Wednesday, referring to its October 2024 upgrade of the company's rating.
In 2019, Nike stopped selling its products on the online retailer's website two years into a pilot partnership, according to multiple media reports at the time.
Price: 60.49, Change: +0.51, Percent Change: +0.85
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